How did the panic of 1893 start?

Answer 1

The panic of 1893 was an economic depression that began in 1893. Investors started cashing in their investments after a failure in the wheat crop of Buenos Aires. This caused a shock on the gold in the U. S. Treasury. People started panicking and started withdrawing all of their money from the bank causing bank runs.

Answer 2

The panic of 1893 had many substantial consequences like over 500 banks failed and 15000 businesses.people panicked and traded paper money in for gold,price of silver drastically dropped, and 3 million lost their jobs.

Answer 3

The significance of the Panic of 1893 was that a huge economic depression washed over America, this being blamed mostly on the shortage of gold.

Answer 4

Income tax rates being raised across the board was the defining moment that started the Panic of 1893.

Answer 5

The panic of 1893 was about when millions of people were out of work.

Answer 6

People lost their jobs.

Answer 7

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